Wipro Reports Significant Profit Growth in Q3

Wipro, a leading IT services company, has announced a remarkable 24.4% increase in its consolidated net profit for the December quarter, reaching Rs 3,354 crore. The company also reported a modest 0.5% growth in operational revenue, totaling Rs 22,319 crore.

New Capital Allocation Policy and Dividend Announcement

In addition to its financial achievements, Wipro has introduced a revised capital allocation policy, aiming for a payout ratio of 70% or higher over a three-year period. The company has also declared an interim dividend of Rs 6 per equity share/ADS, signaling strong financial health and shareholder commitment.

Leadership Comments on Future Outlook

CEO and Managing Director Srini Pallia highlighted the company's effective execution and investment in people as key drivers of success. With 17 substantial deals amounting to $1 billion, Wipro is poised for continued growth and innovation in an AI-driven future, according to Pallia.

CFO Aparna Iyer expressed satisfaction with the company's margin improvements and the board's approval of the new capital allocation strategy, which underscores Wipro's commitment to delivering value to its shareholders.